FxWirePro: GBP/USD steadies around 1.3310,retains bid tone

• GBP/USD edged higher but gains were limited on Wednesday investors looked ahead to a highly anticipated U.S. interest rate decision on Wednesday.  

• The Federal Open Market Committee's (FOMC) two-day policy meeting concludes later, with a rate cut expected to be announced at 1900 GMT and Chair Jerome Powell due to speak at 1930 GMT.

• The UK’s growth rate will return to the spotlight this week as the final GDP estimates are released ahead of the New Year.

•The most recent release from the ONS signalled growth of only 0.1%, against a backdrop of reports that a recent cyber attack sidelining Jaguar Land Rover’s manufacturing may have weighed on activity.

• Meanwhile, markets are placing a roughly 86% chance of the Bank of England cutting interest rates by a quarter of a point to 3.75% at its next meeting on December 19 .

•   Immediate resistance is located at 1.3402(61.8%fib), any close above will push the pair towards 1.3432(Higher BB)

•  Strong support is seen at 1.3284(50%  fib) and break below could take the pair towards 1.3217(20SMA).

  Recommendation: Good to buy around 1.3300, with stop loss of 1.2920 and target price of 1.3380.